REG - GSTechnologies Ltd - FCA Approval for the Change of Control of Angra

GSTechnologiesAnnouncement

18/02/2022 09:15

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RNS Number : 1380C  GSTechnologies Ltd  18 February 2022

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

18 February 2022

GSTechnologies Limited

("GST" or the "Company" or the "Group")

FCA Approval for the Change of Control of Angra Limited

GSTechnologies Limited (LSE: GST), the fintech and information technology
solutions company, is pleased to announce that the Financial Conduct Authority
("FCA") has approved the change of control of Angra Limited ("Angra"), a
UK-based foreign exchange and payment services company, allowing the Company's
agreement to acquire the whole of the issued share capital of Angra, as
announced on 5 October 2021 (the "Acquisition"), to complete.

As completion of the Acquisition was only conditional on GST obtaining
approval from the FCA for the change of control of Angra, a regulated entity,
as announced on 1 November 2021, the Company will now proceed with customary
completion mechanics in order to formally complete the Acquisition.

Angra, which operates under the AngraFX brand name, is an FCA approved
Authorised Payment Institution ("API"), conducting fast, secure and low-cost
foreign exchange business and payment services internationally.  The
completion of the Acquisition will enable GST to utilise Angra as the basis on
which to build the UK arm of its planned blockchain-enabled neobanking
business based on three initial use-cases: international money transfers,
borderless accounts, and private stablecoin.

Tone Goh, Chairman of GST, commented: "We are very pleased to have received
FCA approval for the change of control of Angra.  Angra, based in London,
will form a cornerstone for the development of our blockchain enabled
neobanking business, providing an established, appropriately regulated, base
on which to build our planned UK business.

"We are continuing to rapidly progress our fintech plans, in conjunction with
our collaboration partner, Wise MPay, and I look forward to providing further
updates in due course."

Enquiries:

 The Company
 Tone Goh, Executive Chairman                          +65 6444 2988
 Financial Adviser
 VSA Capital Limited                                   +44 (0)20 3005 5000
 Simon Barton / Pascal Wiese
 Broker
 ETX Capital                                           +44 (0)20 7392 1400
 Tom Curran / Thomas Smith
 Financial PR & Investor Relations
 IFC Advisory Limited                                  +44 20 (0) 3934 6630

 Tim Metcalfe / Graham Herring / Florence Chandler

For more information please see: https://gstechnologies.co.uk/
(https://gstechnologies.co.uk/)

 

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